What is it and what is its purpose

[coolford]

Picked this up last weekend at a garage sale.  The owner didn't know what it is and neither do I.  Looks expensive, but was not.

[oldgoaly]

can you take a pic or two of the lever in and out so we can see what it does? Looks like it would grab or hold something?

[Yadda]

Looks similar to carpet stretchers or maybe a clamp for hardwood flooring.

[lptools]

Might be a hinge mortising tool.

[coolford]

Iptools---you got me going in the right direction, it is a Waller Tool Co. butt mortiser.  Now, if anyone needs their butt mortised this tool might do the job.  Looking closely at it I suppose it might be used on hinges, the old square type.  Depending on the length of the hinge you would have to move it for a second mortise.  So, what do you think it was mainly made to do?  It appears to be fairly rare.

[Bill Houghton]

You'd sure have to be doing a lot of hinges to justify that tool.

[lptools]

Never used one, but I had a similar tool by Stanley. The Patent Number on yours 1603652. Stanley pretty much copied the design.The Stanley Tool Number is 280. That is quite the mechanical marvel, IMHO.

[coolford]

I tried it on a ash board, as set up it cut a section 1 5/8" wide about 1/4" deep and 1 1/2' into the edge of the board while scoring the edge of the cut, and then you push down on a palm lever and it cuts off the piece with a different blade.  Pain in the butt to use and doesn't seem that it could be used on a door, only on the casing.  Well, at least I know about it now.

[Yadda]

A lot of gizmotic action going on in that tool.

[wvtools]

Never used one, but I had a similar tool by Stanley. The Patent Number on yours 1603652. Stanley pretty much copied the design.The Stanley Tool Number is 280. That is quite the mechanical marvel, IMHO.

I think Stanley bought Waller Tool Co. out.  That is how they acquired a lot of new tools for their line.